Sebi broadbases investors, relaxes ownership norms for bourses in GIFT City

Regulator expands shareholding limits of stock exchanges desirous of operating in IFSC

The Securities and Exchange Board of India (Sebi) has relaxed ownership norms for stock exchanges situated in the International Financial Services Centre (IFSC) at GIFT City. The regulator has given green signal to corporates to invest in the stock exchange. So far, only financial institutions were allowed to hold stake.

The regulator expanded the list of eligible shareholders as well as shareholding limits for stock exchanges that wish to operate at IFSC.

This decision will also apply to the existing exchanges at GIFT City. For anchor stock exchanges, the minimum shareholding requirement (whether Indian or foreign) is 51 per cent. The remaining